Famous Analyst: These Altcoins Are Now Giving Buy Signal!

The cryptocurrency market continues to follow a volatile course after gaining significant height this year. During this period, the leading crypto Bitcoin reached new highs and increased its market dominance. Altcoins with market capitalizations below $10 billion have been trending lower since Bitcoin reached a new high in early 2024. According to one analyst, they are therefore preparing to present “some opportunities” for investors.

The analyst predicts that there will be some opportunities for these altcoins!

RealVision chief crypto analyst Jamie Coutts underlines some important points in his latest market assessment. The analyst sees opportunities for smaller-cap altcoins. In this context, the analyst says, “They have been chattering since the March high of this year.” cryptokoin.com As you follow from , Bitcoin reached its ATH level of $73,679 on March 13. But last week it dropped nearly 6% to $67,126. “If this is a steady mid-cycle correction we are experiencing, which I believe is to be expected, then expect some opportunities to emerge in mid- and small-cap alctoins as the market calms down,” Coutts says.

It fell 33% against the equal load stability market capitalization index. Source: Jamie Coutts

A different bracket for metaverse related altcoins!

Bitformance’s crypto tracking information shows that in the last three months, the top 200 equal weight index, which gives equal weighting to cryptocurrencies regardless of market cap, has fallen by over 30% compared to the market cap index, which weights cryptocurrencies based on their market cap. This decline reveals smaller cryptocurrencies performing weaker against the larger cryptocurrencies that dominate the market value index. Meanwhile, Coutts draws attention to the performance of Bitcoin and Ether in the same three-month period. Two cryptocurrencies experienced declines of only 11% and 5% during this period.

Bitcoin lost 6.10% in value in the last seven days. Source CoinMarketCap

The analyst opens another bracket for metaverse-related altcoins. Coutts says these tokens recorded the lowest return on the index in the last three months, with a negative return of 44.13%. In the market value category below $1 billion, The Sandbox (SAND) and Decentraland (MANA) stand out. According to CoinGecko, these altcoins are down over 15% in the past week.

Institutional interest outside of Bitcoin and Ether continues to grow.

Franklin Templeton said on June 6 that he is exploring new crypto funds for institutional investors to invest in altcoins. The asset manager did not mention which altcoins would make up the fund’s basket. However, he recently praised the Solana network.